Monday, June 9, 2008

Germany Needs $640 Billion in Investment to Meet CO2 Target

From Bloomberg:

Germany needs to invest 405 billion euros ($640 billion) in building renovations, power plants and vehicles to meet its target of slashing carbon-dioxide emissions, a study commissioned by the environment ministry found.

Included are 150 billion euros for upgrading houses and commercial buildings, 60 billion euros to make cars less harmful to the environment and 67 billion euros to install wind turbines, solar panels and other renewable energy systems, researchers from think-tanks and institutes including Munich-based Fraunhofer Institute and Potsdam Institute for Climate Research said....MORE